Technology Advances Go On

Ahead of its planned launch of a correspondent lending channel, Northeast Home Loan LLC is implementing the LoanQuest LOS to have one system support all of its business processes, replacing separate providers of services such as document management and funding. In addition to multi-channel functionality, Northeast, which currently offers home financing through its partnership with 12 lenders, selected LoanQuest because of tools that allow customization without programming, impressive customer service and support, and recommendations by users, LoanQuest creator MortgageFlex Systems Inc. reported.

Marlborough Savings Bank automated its mortgage lending program with easyLENDER Mortgage, the loan origination system’s creator Fiserv Inc. announced. The Massachusetts-based lender selected Fiserv’s solution because it was highly-recommended by other financial institutions and met its need for a user-friendly system with customizable loan documents and reports that could be used in all phases of the loan cycle.

Mortgage Cadence Inc. announced that it has four clients set to go live on Mortgage Cadence Orchestrator this quarter, pushing to 10 the number of clients to go live on the enterprise lending solution since the second half of 2007 — which it says is “an incredible accomplishment.” Among the advancements the company touted it recently made are full reverse mortgage capabilities and a user interface to the enterprise lending solution and the launch of a reverse mortgage Point of Sale solution.

“We have accelerated our product suite to a point where it covers the full breadth and depth of our customers’ technology initiatives, and will continue to push our software development to ensure we are at the forefront of the industry,” the Denver, Colo.-based company said in the announcement.

Lenders will be able to extend their ability to predict and manage credit risk effectively when Fair Isaac Risk Management Suite becomes available next quarter, Fair Isaac Corp. announced. The “forward-looking decision tool kit” provides deeper insight into the future debt sensitivity and default risk of individuals, as well as entire loan portfolios. The kit includes the latest FICO 08 Score, a new Credit Capacity Index score, Portfolio Stress Testing analytics, and educational modules.

MRG Document Technologies updated its MIRACLE ONLINE document preparation systems to enable originators to automatically upload their own documents to MRG for inclusion in document packages. The ability to customize packages in this way makes the origination process faster and easier, MRG reported.

LogicEase Solutions Inc. received a patent from the U.S. Patent and Trademark Office for its “System and Method For Automated Compliance With Loan Legislation.” The San Francisco, Calif.-based company said the patent primarily encompasses its ComplianceAnalyzer automated compliance system, which examines mortgages and produces real-time audit reports with summary and detailed findings on compliance with laws and regulations across multiple jurisdictional levels.

“This important milestone helps us give the residential mortgage industry confidence that we will continue to be the leading compliance automation provider for years to come,” said Jason Roth, a company executive and named inventor on the patent, in the announcement.

New South Federal Savings Bank has chosen to use Integrative Logic’s database development, customer analytics and strategic marketing services. An announcement indicated Integrative was selected because its “innovative data analytics foundation” fit with the lender’s intent to develop continuous customer relationships across products and enhance competitiveness.

To ease the burden of processing tax reports for its alternative investment clients, U.S. Bancorp Fund Services LLC decided on the solutions of Wolters Kluwer Financial Services and Advent Software Inc. The combining of Wolters’ tax reporting solution, GainsKeeper FundTax Pro, and Advent’s global fund accounting and portfolio management platform, Geneva, simplify the accounting process and help manage costs, the two technology providers jointly announced.